Insurance

Though recent highs in premium income have made Peru’s insurance market one of the fastest-growing in Latin America, the country remains comparatively underinsured. Taking these two factors into consideration, the sector has been showing strong growth but from a relatively low base, and that awareness of insurance as a way of managing public and private risks is very low. These low levels of insurance penetration are influenced by Peru’s labour market informality rate of 72%, which is significantly higher than in other countries in the region.

This chapter features interviews with Socorro Heysen, Superintendent, Superintendency of Banks, Insurance and Pension Funds Administrators of Peru, and Eduardo Morón, President, the Peruvian Association of Insurance Companies.